Business
Cronos Announces Exchange Approval for Cronos Israel and Key Additions to Senior Leadership Team
Cronos Announces Exchange Approval for Cronos Israel and Key Additions to Senior Leadershi...
About this update from Cronos Group Inc
[{"type":"text","content":"\n\n\n\nCronos Announces Exchange Approval for Cronos Israel and Key Additions to Senior Leadership Team\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Nov. 9, 2017\n\n\n\nTORONTO, Nov. 9, 2017 /CNW/ - Cronos Group Inc. (TSX-V: MJN) (OTC – Nasdaq Int'l Designation: PRMCF) (\"Cronos\" or the \"Company\") is pleased to announce that its previously announced strategic joint venture (\"Cronos Israel\") with Kibbutz Gan Shmuel (\"Gan Shmuel\") for the production, manufacture, and global distribution of medical cannabis, has been approved by the TSX Venture Exchange.  \n\n\n \n \n\n \nIsrael's climate, which is ideal for year-round greenhouse cultivation, coupled with Gan Shmuel's existing infrastructure and skilled labor force, will enable Cronos Israel to produce high quality medical cannabis at an expected cost of between $0.40 and $0.50 per gram.  Additionally, Gan Shmuel is situated on 4,939 acres of mixed-use agricultural/industrial land, which provides the ability to expand capacity well beyond 100,000 KG annually to meet demand in Israel, Germany, and future distribution channels.  \n\nKey Additions to Senior Leadership Team\n\nXiuming Shum joins Cronos as General Counsel with eight years of transactional and in-house experience in mergers and acquisitions (\"M&A\") and regulatory change management.  Most recently, Xiuming served as in-house counsel at BNP Paribas' Corporate and Institutional Banking division in New York and London, providing advice to senior management on disruptive and transformative legislative changes, such as the BASEL banking reforms, Brexit, and the Dodd-Frank Act.  Previously, she was a corporate attorney at Sullivan & Cromwell LLP in New York, where she focused on M&A in large, complex cross-border transactions in diverse industries, including alcohol and spirits, insurance, banking, private equity, and hedge funds.  Xiuming is a New York-qualified attorney, holding a J.D. from Columbia Law School (Harlan Fiske Stone Scholar) and a first-class Bachelor of Laws degree...